HENDERSON, Ky (WEHT) – With today’s high inflation, interest rates and overall need to pinch every penny possible, people might seek opportunity for better pay whenever possible.
What about Indiana? It depends on what side of the stick you are on.
ADP used salaries of nearly 10 million individual employees over the past year to determine the year-over-year pay growth across the country, and they determined when it comes to average pay growth, Indiana ranks 47th with only a 5.2% pay change. In comparison to the rest of the Tri-State, Kentucky has a pay change of 7.3% and Illinois has a pay change of 6.4%. The national average is 6.2%
ADP also determined the average pay level across the country was $57,600. Indiana and Kentucky were both below that average with $55,400 and $53,900 respectively.
However, when it comes to opening a business, according to CNBC, Indiana is the fifth best state in that category due to the lower cost.
Experts say since the recession of 2008, Indiana has struggled to reward its workers compared to other states, which has led to some seeking other opportunities elsewhere. ADP also found that people that job stayers have a median year-over-year change in annual pay of up to 7.8% whereas job changers have a median year-over-year change in annual pay of up to 16.5%.
For a full list of results and other state statistics, click here.